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Photon Energy starts work on more Hungarian solar projects


Photon Energy starts work on more Hungarian solar projects

November 5 (Solar) – Photon Energy Solutions HU Kft announced today that it has begun construction work on eight more solar parks in Hungary with a combined capacity of 5.5 MWp.

Following the recent announcement on the start of construction work on 5.5 MWp of solar projects near Tiszakecske, Photon Energy is now initiating construction on an additional eight 498-kW solar projects in Almasfuzito, a village close to Budapest.

Covering an area of 6.96 hectares (17.2 acres), the facilities will use nearly 20,000 of Jinko polycrystalline modules in total and are expected to generate some 6.6 GWh of electricity per year. The connection to the grid of local network service provider E.ON Eszak-dunantuli Aramhalozati Zrt is seen to take place by the end of 2018.

The construction cost is estimated at around EUR 6.1 million (USD 6.94m). Upon completion, the plants are expected to generate EUR 660,000 in revenues per year.

The solar parks will be added to the proprietary portfolio of Photon Energy and when connected to the grid, their long-term monitoring, operations and maintenance will be assumed by Photon Energy Operations HU Kft.

The projects will be owned and operated by Photon Energy’s wholly owned company Racio Master Kft, with KAT licences tied to a feed-in tariff (FiT) of HUF 32 (USD 0.11/EUR 0.099) per kWh over a period of 25 years. The maximum approved and supported production will be 15,500 MWh per licence.

(EUR 1.0 = USD 1.14)

(HUF 100 = USD 0.35/EUR 0.31)

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